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Warehousing to rise due to Indian e-com, biz move from PRC

13
May '20
Pic: Shutterstock
Pic: Shutterstock
A likely growth in e-commerce and possible shift of manufacturing activities from China to India after the COVID-19 crisis is expected to lead to a rise in demand for leasing of warehousing and industrial space in the country that has slowed down due to the nationwide lockdown, property consultant Savills India said in a report released recently.

“Industrial and warehousing is the most resilient segment in India, which is likely to emerge quickest and strongest post-COVID-19,” the report said.

The demand-supply of industrial and warehousing space is expected to soften as compared to previous estimates in the near to medium term due to coronavirus pandemic. Higher supply contraction could lead to decrease in vacancies and optimum pricing, the report, titled 'India Front & Centre - Production & Supply Chain', said.

Savills India has revised its estimates downwards for both absorption and new supply of warehousing and logistics space for 2020.

The projection for warehousing and logistics leasing has been revised to 30 million sq ft from 40 million sq ft earlier. Fresh supply is now estimated at 12 million sq ft this year from 42 million sq ft projected earlier across top eight cities: Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kolkata, Mumbai and Pune.

Fibre2Fashion News Desk (DS)


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